MIKE ADENUGA

Bizz Africa 6:49 AM LIVINGLEGENDS

Michael Adeniyi Agbolade Ishola Adenuga Jr (born on 29th April 1953) is a Nigerian business tycoon, and the second richest person in Nigeria. His company Globacom is Nigeria's second-largest telecom operator, and also has a presence in Ghana and Benin. He also owns stakes in the Equitorial Trust Bank and the oil exploration firm Conoil (formerly Consolidated Oil Company). Forbes has estimated his net worth at $3.2 billion as of September 2015 which makes him second wealthiest Nigerian behind Aliko Dangote, and the sixth richest person in Africa.

He received his secondary school education at the Ibadan Grammar School, Ibadan . He worked as a taxi driver to help fund his university education. He graduated from Northwestern Oklahoma State University and Pace University, New York with degrees in Business Administration.

In 1990, he received a drilling license and in 1991, his Consolidated Oil struck oil in the shallow waters of Southwestern Ondo State, the first indigenous oil company to do so in commercial quantity.

He was issued a conditional GSM licence in 1999; after it was revoked, he received a second one when the government held another auction in 2003. His telecom company Globacom spread quickly and started challenging the giant MTN Group. It launched services in Benin in 2008, and has continued its spread across Ghana and Cote d'Ivoire, with more licences currently being prospected in other West African countries.

He was named African Entrepreneur of The Year at the maiden African Telecoms Awards (ATA) on 15 August 2007.

In 2009, Adenuga was detained for money laundering by the Economic and Financial Crimes Commission. He left the country and lived in London until the Umaru Musa Yar'Adua regime granted him a pardon.

In May 2015, Adenuga made a takeover bid to purchase Ivorian mobile telecom's operator Comium Cote d'Ivoire for $600 million.

Credit:

Wikipedia

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